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Wen pledges to rein in soaring consumer prices
Date:2011/2/28      View:1332
Chinese Premier Wen Jiabao told Internet users Sunday that he would not allow the consumer prices to surge unchecked in the country.

Wen made the remarks when answering netizens' questions online concerning rising price pressures.

Maintaining the stability of prices has always been the priority of China's economic development as excessive increase in consumer prices would not only affect people's life but also hamper social stability, Wen said.

China's consumer price index (CPI), a major gauge of inflation, rose 4.9 percent in January from a year earlier as food prices increased 10.3 percent due to strengthening demand and a drought in key grain-growing regions. The CPI rose by 4.6 percent in December and 5.1 percent in November, a 28-month high.

The country has stepped up its fight against inflation as soaring prices of food and other commodities have stoked price pressures that pose growing risks to the economy. Government departments have already undertaken a slew of measures to keep prices in check, including programs aimed at boosting grain output, and offering subsidies to drought relief.

These measures have helped contain the rising trend of consumer prices, Wen said. "With these measures better implemented, we can be sure to succeed in easing inflation."
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